With all the controversy and mistrust surrounding Tether (USDT) it’s no surprise that a multitude of new alternatives have popped up recently. The latest example is from Malta where a company seeking a local crypto license has launched a Euro-backed stablecoin, EURS.

Stasis Launches EURS

Stasis, a financial tokenization platform, has launched EURS, a new stablecoin built on Ethereum’s EIP-20 standard and claimed to be backed 1-for-1 by the Euro. The EURS has begun trading on one exchange already, London-based DSX, and the company says that the order volume is projected to reach $ 500 million by year’s end. Read more...

Stablecoins are an interesting addition to the world of digital currencies. These coins usually have their values pegged to tangible assets, such as natural reserves or fiat currencies. STASIS is now in the process of creating EURS, which is a stablecoin pegged to the euro. It’s an interesting idea, assuming there is a market for it in the first place.

EURS Will be Introduced in June

For those unfamiliar with STASIS, it is a fully compliant blockchain platform capable of tokenizing any existing asset. The firm specializes in free monetary flow between off-chain and on-chain digital assets. As one would expect, the firm is based in Malta, which is quickly becoming a major hub for cryptocurrency, blockchain tech, and digital asset activity alike. Read more...